First Federal Savings Bank
First Federal Savings Bank

2926 S Main
Elkhart, IN 46517
PH: (574)524-8989
FX: (574)524-8999

For many people, home ownership and secure savings typifies the American Dream. Making that dream possible for the community has been the focus of First Federal Savings Bank.

From the bank's beginning in 1966 in the backroom of a neighborhood grocery store in Rochester, Indiana, to the 2008 opening of its sixth branch in Mishawaka and Indiana's first green bank, First Federal has fulfilled the American Dream for generations of homeowners.

"It has been said that to survive as a small community bank today, one must have a niche in the market. Mortgage banking is and has been the niche that has worked well for us," said Richard E. Belcher, President

First Federal's existence began in the mid-1960s. Rochester's area banks did not offer mortgage loans, so, to fulfill that need, Richard E. Belcher opened First Federal Savings and Loan Association of Fulton County in 1966 and served as bank president.

By the end of 1972, First Federal had assets of more than $7 million. It became the first thrift in Indiana to convert from a mutual association to stock by issuing 130,000 shares in 1977. The name was changed to First Federal Savings Bank in 1984 to better reflect the function of the bank.

Branch offices were opened in Winamac in 1973, Bremen in 1974, and Plymouth in 1979. A branch in Elkhart began as a mortgage origination office in 1989 and became a full service office in 1998. That year also saw the opening of a mortgage origination office in Mishawaka. That office in turn became not only a full service office in 2008, but also Indiana's first bank facility to achieve the U.S. Green Building Council's requirements for Leadership in Energy and Environmental Design (LEED).

The bank's success could be said to have come in part from its visionary thinking. This forward thinking is most recently displayed by the construction of the Mishawaka office, which showcases advanced technology in environmentally efficient design. The 5,800 square foot facility features a roof system that incorporates not only solar panels, but also a drainage system and suitable grasses to reduce storm water runoff. Wind turbines and a geothermal heating and cooling system also reduce the building's dependence on conventionally supplied electricity. These and many other details throughout the uniquely shaped building have earned it a LEED certification.

The banks' success could also be said to have come from its consistency. The consistency of First Federal's local loan servicing throughout the life of every loan has appealed to customers from the beginning. Finally, the consistency of leadership continues under the guidance of its first and only president, Richard E. Belcher.
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